GIRIO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GIRIO
Largest movements
- Cash +€24,174
up €24,174 (+127%), from €19,109 to €43,282
mainly Net result for the year (+€31,846) and Depreciation (+€17,231)
- Tangible fixed assets -€15,827
down €15,827 (-14.3%), from €110,955 to €95,128
- Receivables within one year +€1,923
up €1,923 (+99.7%), from €1,929 to €3,853
of which Other amounts receivable: +€2,990
- Trade debts -€33,933
down €33,933 (-79.6%), from €42,630 to €8,698
- Reserves +€31,846
new in 2025: €31,846
- Tax, wage and social debts +€16,242
up €16,242 (+142%), from €11,404 to €27,646
of which Taxes: +€11,773
- Other debts +€7,393
up €7,393 (+24.5%), from €30,141 to €37,534
- Current portion of long-term debt -€6,475
down €6,475 (-57.5%), from €11,259 to €4,784
- Gross operating margin +€102,957
up €102,957 (+140%), from €73,681 to €176,638
- Staff costs +€42,652
up €42,652 (+72.0%), from €59,242 to €101,893
- Taxes +€12,978
up €12,978 (+8,367%), from €155 to €13,133
- Depreciation +€6,463
up €6,463 (+60.0%), from €10,768 to €17,231
- Other operating charges -€3,538
down €3,538 (-25.7%), from €13,788 to €10,250
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,111 | €163,399 | +€8,288 | +5.3% |
| Fixed assets | 21/28 | €129,555 | €113,728 | -€15,827 | -12.2% |
| Tangible fixed assets | 22/27 | €110,955 | €95,128 | -€15,827 | -14.3% |
| Plant, machinery and equipment | 23 | €4,758 | €3,433 | -€1,325 | -27.9% |
| Furniture and vehicles | 24 | €9,286 | €8,523 | -€763 | -8.2% |
| Leasing and similar rights | 25 | €7,042 | - | -€7,042 | |
| Other tangible fixed assets | 26 | €89,868 | €83,172 | -€6,697 | -7.5% |
| Financial fixed assets | 28 | €18,600 | €18,600 | = | 0.0% |
| Current assets | 29/58 | €25,556 | €49,671 | +€24,115 | +94.4% |
| Stocks and contracts in progress | 3 | €3,765 | €2,536 | -€1,229 | -32.6% |
| Stocks | 30/36 | €3,765 | €2,536 | -€1,229 | -32.6% |
| Amounts receivable within one year | 40/41 | €1,929 | €3,853 | +€1,923 | +99.7% |
| Trade receivables | 40 | €1,929 | €863 | -€1,067 | -55.3% |
| Other amounts receivable | 41 | - | €2,990 | +€2,990 | |
| Cash at bank and in hand | 54/58 | €19,109 | €43,282 | +€24,174 | +127% |
| Deferred charges and accrued income | 490/1 | €754 | - | -€754 | |
| Total equity and liabilities | 10/49 | €155,111 | €163,399 | +€8,288 | +5.3% |
| Equity | 10/15 | €39,200 | €71,045 | +€31,846 | +81.2% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | - | €31,846 | +€31,846 | |
| Distributable reserves | 133 | - | €31,846 | +€31,846 | |
| Profit (loss) carried forward | 14 | €4,200 | €4,200 | = | 0.0% |
| Amounts payable | 17/49 | €115,911 | €92,353 | -€23,558 | -20.3% |
| Amounts payable after more than one year | 17 | €18,476 | €13,692 | -€4,784 | -25.9% |
| Financial debts | 170/4 | €18,476 | €13,692 | -€4,784 | -25.9% |
| Amounts payable within one year | 42/48 | €97,435 | €78,662 | -€18,773 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €11,259 | €4,784 | -€6,475 | -57.5% |
| Trade debts | 44 | €42,630 | €8,698 | -€33,933 | -79.6% |
| Suppliers | 440/4 | €42,630 | €8,698 | -€33,933 | -79.6% |
| Advances received on contracts in progress | 46 | €2,000 | - | -€2,000 | |
| Taxes, remuneration and social security | 45 | €11,404 | €27,646 | +€16,242 | +142% |
| Taxes | 450/3 | €8,130 | €19,903 | +€11,773 | +145% |
| Remuneration and social security | 454/9 | €3,274 | €7,743 | +€4,469 | +136% |
| Other amounts payable | 47/48 | €30,141 | €37,534 | +€7,393 | +24.5% |
| Remuneration, social security and pensions | 62 | €59,242 | €101,893 | +€42,652 | +72.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,768 | €17,231 | +€6,463 | +60.0% |
| Other operating charges | 640/8 | €13,788 | €10,250 | -€3,538 | -25.7% |
| Gross operating margin | 9900 | €73,681 | €176,638 | +€102,957 | +140% |
| Operating profit (loss) | 9901 | -€10,117 | €47,263 | +€57,380 | |
| Financial charges | 65/66B | €2,628 | €2,284 | -€344 | -13.1% |
| Recurring financial charges | 65 | €2,628 | €2,284 | -€344 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,745 | €44,979 | +€57,724 | |
| Income taxes | 67/77 | €155 | €13,133 | +€12,978 | +8,367% |
| Profit (loss) for the period | 9904 | -€12,900 | €31,846 | +€44,746 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,900 | €31,846 | +€44,746 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.